Results 1 to 12 of 12
  1. #1
    Member
    harrybarracuda's Avatar
    Join Date
    Sep 2009
    Last Online
    Today @ 02:19 AM
    Posts
    59,739

    They can't keep their snouts out of the trough

    Quite incredible. Doesn't seem to matter how badly you fuck up.

    The shares have crashed, profits have followed and there is growing doubt about whether the company has a long term future.

    But Dixons Retail chief executive John Browett still marched home with pay of more than 1 million for his work in the last year, an amount that included a cash bonus of 122,000. That's down from a total of 1.57 million last year, when his bonus was a hefty 670,000.

    Investors, particularly small shareholders outside the City, are likely to find it extremely hard to understand why a bonus is justified given how tough the company has found trading lately.

    Browett, who arrived from Tesco in December 2007, remains a highly regarded retail executive. He is trying to turnaround a business that had lost its way and which has been buffeted by intense competition in the electricals market.

    The stock was today down 0.26p at 15.03p. They were around 150p when Browett started work.

    His finance director Nicholas Cadbury also did well. He was paid 564,000 including a cash bonus of 62,000.

    A chart in the report called Total Shareholder Return provided by the company shows just how far below its own benchmarks the company has performed.

    A hundred pounds invested in Dixon's five years ago would now be worth around 15. The same amount invested in the FTSE 350 index would be worth more than 120.

    Defending the pay, Dixons points out that neither executive got a reward based on the group's performance. Instead the bonuses were for meeting "personal objectives" which it declined to explain.

  2. #2
    Thailand Expat

    Join Date
    Mar 2011
    Last Online
    07-08-2019 @ 11:41 AM
    Posts
    36,439
    Quote Originally Posted by harrybarracuda
    Instead the bonuses were for meeting "personal objectives" which it declined to explain.
    I wouldn't go public with that info, either...ffs...what a joke...

  3. #3
    Thailand Expat
    koman's Avatar
    Join Date
    Aug 2010
    Last Online
    03-08-2019 @ 10:01 PM
    Location
    Issan
    Posts
    4,234
    Quote Originally Posted by harrybarracuda
    Defending the pay, Dixons points out that neither executive got a reward based on the group's performance. Instead the bonuses were for meeting "personal objectives" which it declined to explain.
    Quite proper...personal objectives are very important and when they are reached they should be richly rewarded... How are you supposed to attract top quality management if you don't allow them to loot the place?...you can't let them all move to the US....

  4. #4
    Member
    Bettyboo's Avatar
    Join Date
    Nov 2009
    Last Online
    Yesterday @ 10:40 PM
    Location
    Bangkok
    Posts
    29,720
    ^ this is the reason I packed in the business world (10-12 years ago, I'd already been offered CEO positions in International companies); it's a joke. Senior Management Team meetings are usually a group of idiots making awful choices which will negatively affect the company, when the results of those bad choices comes around, they will sack the workforce and increase their own salaries... Then, guess what, next year, more of the same, then next year more of the same...

    No ethics at all. No loyalty to 'the company'. Usually, very little ability; all that is needed is the drive to get to the top, and 'people skills' to mix with like minded folk...

    Not all businessfolk/companies are like this, but it is the standard. I'd rather be shot of the fukers, horrible folk to be around. Rape the hard working employees to pay their kids Eton fees... fukers...
    How do I post these pictures???

  5. #5
    Tax Consultant
    Thormaturge's Avatar
    Join Date
    Jul 2007
    Last Online
    @
    Location
    Bangkok
    Posts
    9,892
    Was bankrupting the company one of those "personal objectives"?

    These guys will be working in the banking sector next. RBS would snap them up.

  6. #6
    I am in Jail

    Join Date
    Mar 2010
    Last Online
    16-08-2019 @ 07:26 AM
    Location
    Australia
    Posts
    11,655
    Reminds me of a quote : "A criminal is a person with predatory instincts who has not sufficient capital to form a company ".

    And : "A crime persevered in a thousand centuries ceases to be a crime, and becomes a virtue. This is the law of custom, and custom supersedes all other forms of law."
    Mark Twain

    One to mull over : " Crime and bad lives are the measure of a State's failure, all crime in the end is the crime of the community."
    H.G. Wells

    Now what was that Mark Twain quote about corporations ?
    Last edited by Latindancer; 19-07-2011 at 02:44 PM.

  7. #7
    I am in Jail
    Join Date
    Jul 2011
    Last Online
    14-08-2011 @ 08:54 PM
    Posts
    82
    When profits makes sense but bonus for failure?

  8. #8
    Neo
    Neo is offline
    Dislocated Member
    Neo's Avatar
    Join Date
    May 2011
    Last Online
    05-08-2019 @ 02:34 AM
    Location
    Nebuchadnezzar
    Posts
    10,577
    Eat the rich.

  9. #9
    ความสุขในอีสาน
    nigelandjan's Avatar
    Join Date
    Jan 2009
    Last Online
    @
    Location
    Frinton on sea and Ban Pak
    Posts
    12,919
    It puts me in mind of Premier league football managers ,, when they arrive at the new club they are gonna win everything ,, he gets a golden welcome then a mansion to live in company Rolls Royce + Millions in wages , cocks it all up within six months is paid of ( remaining contract ) re signs in the club next door , and the merry go round begins again
    I'm proud of my 38" waist , also proud I have never done drugs

  10. #10
    The Dentist English Noodles's Avatar
    Join Date
    Aug 2006
    Last Online
    @
    Location
    Burning Down a Pikey Caravan
    Posts
    17,230
    Quote Originally Posted by harrybarracuda
    The stock was today down 0.26p at 15.03p. They were around 150p when Browett started work.
    Quote Originally Posted by harrybarracuda
    Browett, who arrived from Tesco in December 2007, remains a highly regarded retail executive.
    What is there to say? All you can really do is

  11. #11
    Fresh Seaman CaptainNemo's Avatar
    Join Date
    Sep 2009
    Last Online
    18-02-2018 @ 04:17 AM
    Location
    in t' naughty lass
    Posts
    5,408
    Quote Originally Posted by Neo View Post
    Eat the rich.
    Shit the poor.

  12. #12
    Ocean Transient
    Sailing into trouble's Avatar
    Join Date
    Apr 2010
    Last Online
    06-05-2017 @ 02:55 PM
    Location
    Untied from dock. Heading South Down West Coast of Canada.
    Posts
    3,634
    Why can't I get one of those jobs? I can screw up better than most. Given a couple of years I could have Microsoft on its Knees

    I wonder if I sent my resume around the all the companies doing well, I could get an offer!

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •